Learning and Information Aggregation in an Exit Game
AbstractWe analyse information aggregation in a stopping game with uncertain pay-offs that are correlated across players. Players learn from their own private experiences as well as by observing the actions of other players. We give a full characterization of the symmetric mixed strategy equilibrium, and show that information aggregates in randomly occurring exit waves. Observational learning induces the players to stay in the game longer. The equilibria display aggregate randomness even for large numbers of players. Copyright 2011, Oxford University Press.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Oxford University Press in its journal The Review of Economic Studies.
Volume (Year): 78 (2011)
Issue (Month): 4 ()
Contact details of provider:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- repec:tex:wpaper:130907 is not listed on IDEAS
- Francis Bloch & Simona Fabrizi & Steffen Lippert, 2011.
"Learning and Collusion in New Markets with Uncertain Entry Costs,"
- Francis Bloch & Simona Fabrizi & Steffen Lippert, 2011. "Learning and Collusion in New Markets with Uncertain Entry Costs," Working Papers 1112, University of Otago, Department of Economics, revised Dec 2011.
- Dinah Rosenberg & Antoine Salomon & Nicolas Vieille, 2010. "On Games of Strategic Experimentation," Working Papers hal-00579613, HAL.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.